December 13 Copper Market Brief Review

Thursday Shanghai copper main contract 2002 morning opened at 49150 yuan / ton, then the center of gravity slightly moved down to around 49130 yuan / ton, near the end of midday short-term rush intraday high point of 49240 yuan / ton, after a slight exploration of the market to continue to rush upward entangled, the high is difficult to stand, and then the center of gravity returned to around 49160 yuan / ton, the end of the session fell slightly and closed at 49030 yuan / ton, up 230 yuan / ton, up 0.
47%.

The average price of electrolytic copper in Shanghai in the South Reserve: 48910 yuan, up 410, the monthly discount quotation: 10 to 30, up 10
.
Shanghai copper continued to move higher and stabilized intraday
.
Spot holders are shipping at a high price, and the quotation is slightly higher than the previous day, but the quotation of the flat water copper market within the day is quite different, ranging from +10 yuan / ton to +30 yuan / ton, and some holders are eager to ship, there is a little dumping phenomenon, and the quotation is as low as flat water
.
The price of good copper is still not much different from flat water copper, and the quotation is about
+30 yuan / ton.
The recent high market price has left the premium hovering at a low level, the supply and demand sides are deadlocked, and the downstream buying sentiment is reduced
.
Holders have a higher sentiment of cash exchange, active shipments, and looser circulation sources
.
Copper rose 20-30 yuan for the month, up 10; flat water copper flat water 0-liter 20 yuan, up 15; Wet copper sticker 30-20 yuan, up 10
.

The average price of electrolytic copper in Foshan in Nanchu: 48940 yuan, up 390, the price of the month's discount: 30 to 80, down 5
.
Shanghai copper continued to soar, and the main contract rose 430 yuan from the previous day to 49230 yuan / ton at the midday close, which is still not conducive to downstream procurement
.
In the morning, the holders maintained the previous day's premium quotation, flat water copper +40, good copper +80, all had a small amount of transactions, intraday market activity decreased significantly, there were not many receivers, and the trading soon stagnated
.
Subsequently, flat water copper was lowered to 30 yuan / ton, although the trading volume expanded, but the premium still did not stop falling, and some flat water copper was traded
at +20.
Good copper is close to delivery, the willingness to raise the price is strong, and the quotation shipment is not much, the premium is maintained at the 70-80 line, and the transaction is less
.
Overall, the intraday spot trading atmosphere deteriorated, and the spot premium fell under pressure, but the large households sold at low prices, so that the holders still had a strong price sentiment, and there was little room for the premium to fall
.

Recently, the macro global economy has continued to improve, the current labor market in the United States is still strong, the overall economy still maintains a continuous expansion trend, market confidence continues to strengthen, and Shanghai copper can maintain a stable high
.
Watching major events such as the UK election and ECB President Christine Lagarde's press conference will further guide the market
.
At present, Shanghai copper is closing in the sun, the MACD red column continues to lengthen, and the technical situation is still good
.
Wait for guidance from the outside to test whether Shanghai copper can continue to hold above
49000.